STRUCTURED WARRANTS ANNOUNCEMENT : FINAL SETTLEMENT
TENAGA-C53: CW TENAGA NASIONAL BHD (KIBB) |
Type | Announcement |
Subject | STRUCTURED WARRANTS ANNOUNCEMENT FINAL SETTLEMENT |
Description | KENANGA INVESTMENT BANK BERHAD (''KIBB'') EXPIRY OF EUROPEAN STYLE NON-COLLATERALISED CASH SETTLED CALL WARRANTS OVER ORDINARY SHARES OF TENAGA NASIONAL BERHAD (''TENAGA'') (''TENAGA-C53'') |
We wish to announce that TENAGA-C53 had expired at 9.00 a.m. on 2 August 2019 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:
Cash Settlement Amount = Number of TENAGA-C53 exercised x (1/Exercise Ratio) x (Closing Price – Exercise Price) = Number of TENAGA-C53 exercised x (1/11.8) x (RM13.7750 - RM14.4000) = Number of TENAGA-C53 exercised x RM0.0000
The Closing Price of RM13.7750 is the average daily volume weighted average price (VWAP) of the ordinary shares of TENAGA for the five (5) market days prior to and including the market day immediately before the Expiry Date. The TENAGA-C53 is deemed to have been automatically exercised on the Expiry Date.
As the Cash Settlement Amount is less than Zero, warrantholders will not be entitled to receive any payment from us and all outstanding and unexercised TENAGA-C53 will cease to be valid and all our obligations in respect to TENAGA-C53 shall terminate absolutely.
This announcement is dated 2 August 2019. |
Announcement Info
Company Name | TENAGA-C53: CW TENAGA NASIONAL BHD (KIBB) |
Stock Name | TENAGA-C53 |
Date Announced | 02 Aug 2019 |
Category | General Announcement for PLC |
Reference Number | GA1-02082019-00053 |